Quotation board printing unit



y 1932- R. HOOVER ET AL 4 QUOTATION BOARD PRINTING UNIT Filed May 4,1931 2 Sheets-Sheet l flllll llllll) gvvuemtozs R HOOVER E R.WHEELER y1932- 4R. HOOVER ET AL 1,861,414

QUOTATION BOARD PRINTING UNIT Filed May 4, 1 1 2 Sheets-Sheet 2 IO'FIG.5

HIGH LOW HUNDREDS TENS UNITS FRACTIONS LOW 1 HIGH HIGH LOW HUNDREDS TENSUNITS FRACTIONS FRACTIONS 13 l3 E'ELETENS UNITS gnoemto zs HoovEFi E.R.WHEELER- Patented May 31, 1932 TES- PATENT OFFICE RAY HOOVER AND EVANR. WHEELER, OF NORTH PLAINIEIELD, NEW JERSEY, AS-

SIGNORS TO THE WESTERN UNION TELEGRAPH COMPANY,

CORPORATION OF NEW YORK OF NEW YORK, N. Y., A.

QUOTATION BOARD PRINTING UNIT Application filed May 4, 1931. Serial No.535,067.

This invention relates to a quotation board mechanism for automaticallyprinting in visible form information concerning different items, such asstock, bond, and commodity quotations in response to telegraphicsignals, and more particularly to, apparatus which, in addition todisplaying information of the usual character, such as quoted marketvalue, can, when desirable be operated to indicate the fact that theinformation is of an unusual character, for example that a quotationrepresents a high or low value for the day; and it has for an object toprovide acombined display unit with means for selectively displayingboth types of information with one group of indicators. According to ourinvention,

' such indicators are preferably in the form of printing or type Wheelsarranged to display the information in printed form 011 a sheet or tapeof paper, or other material.

Asystem noW in commercial use for automatically posting stock quotationsat a plurality of separate places, such as brokers offices and banks,from a-common transmitting point, involves the use of four channels ofcommunication extending between the transmitting station and thereceiving station embodying the quotationboard apparatus,'separatechannels being employed to transmit signals corresponding to each of thehundreds, tens, units, and fractions (in eighths) values or digits ofthe quotation. The four transmitting channels may comprise four separateline wires or two line Wires, each having battery of positive andnegative polarity applied alternately thereto in a series of impulses,in conjunction with polarized relays at the receiving station forresponding to the polarity of the current transmitted over each.

of the lines, One form of such a system is described and claimed in theco-pending application of Ray Hoover entitled Electrical selecting andindicating system, filed November 11, 1929, Ser. No. 406,357 andassigned to The Western Union Telegraph' Company. y

In another form the transm'ission'from a distant initial or. sendingstation may be ac complished over a single wire to a local decoder orrepeater station from which the various channels of impulses areseparated and sent out to the various quotation boards.

Or again, the single Wire may go directly to the subscribers cabinetwhere a decoder separates signal channels and transmits them to thequotation board mechanism in the usual manner.

Quotation boards as heretofore constructed employ a group of fourindicating units, each having a dial or drum bearing the numerals 1 to9, 0 and a blank, four units being disposed side by side behind suitableapertures so that when properly set up the numerals on the dials may bedirectly observed to give the quotation. Ordinarily, five of such groupsof indicators are provided for each stock or item, corresponding to thequotation ranges chosen to be posted, such as yesterdays close, open,high, low, and last quotations of the stock, and signals are transmittedto the quotation board to operate these at appropriate times. On theother hand, the number of range signals transmitted is by no meanslimited to five. Other signals representing any combination of the aboveranges or signals to indicate bid, ask, up, and down or any otherdesirable range or other information may be transmitted.

In an arrangement described and claimed by us in an application entitledPrinting quotation board, filed May 9th, 1930, Ser. No. 451,140, andassigned to Vestern Union Telegraph Company, it has been proposed touse, in place of one or more of the five range groups of indicatorsprovidedfor each'stock, a printing unit which shall make the informationvisible in printed form on a paper tape or other sheet material.Ordinarily the group of indicators corresponding to the last quotationwill be displaced by the printing unit. This arrangement enables theconsecutive quotations to be kept in view for an extended length of timeas new quotations are being printed on the tape, and thus indicate whatis termed the trend of the stock being quoted upon.

It will be observed that in the quotation board system as abovedescribed, there is ineluded among the groups of indicators for thevarious stock ranges a group for the high and low ranges. However, whenconsecutive quotations occur in printed form,

the required number of stock range indica'-.

tors such as referred to above, their position with respect to otherquotations of the stock would not be shown. In addition, in the printingunit of the type described in our aforesaid application, the variousrange quotations would occur printed on the tape, but they could not bereadily identified without making a comparison between the printedquotations and the range indicators of the quotation board.

It is obvious that my invention may be embodied in one or more of thefive groups of range indicators for indicating directly, instead ofprinting, the fact that the quotation displayed represents a high, lowor other special value. This may be accomplished by employing a unit inthe indicator which will display a character indicating such informationsimultaneously with the characters indicating the value of thequotation.

More particularly, therefore, it is an object of our invention toprovide a printing unit adapted to be used in a system such as describedin the above mentioned applications which will have means to print anindication along with the quotation printed by such unit, which willsignify that the quotation is of an unusual character,-for example, thatit represents a new high, a new low, a bid,

or asked or other quotation of special SIgIIIfiCaDCG'OI' value.

This is accomplished by providing an H and an-L, or a B and an A, orother desirable characters on a type wheel, which may be either thetypewheel corresponding to the hundreds digits or an extra type wheelincluded in the printing unit and arranged to print in a separatecolumn, and which is arranged to respond to the high, low, bid, ask, orother suitable range selecting signal transmitted in'connection with thestock quotation signals.

Therefore another object, of our invention is to provide a type wheelunit having a type wheel with means to print an H, L, B, A, or otherspecial character on the tape with or as a part of the quotation, andwhich may be selectively brought into position to print a predeterminedone of the special characters to designate the range or any otherspecial characteristic of the quotation displayed. r

Still another object is to provide a type wheel arrangement responsiveto certain signal impulses to cause a predetermined special charactercarried by the type wheel to be rotated into printing position.

A still further object is to provide a special commutator arrangementwhich will control the rotation of the type wheel to bring the specialcharacters into printing position in response to certain range signalimpulses.

A still further object of our invention is to provide special controlarrangement which will render the type operating means unresponsive toother signal impulses after it has responded to a range signal impulsewhich brings a special character into printing position.

These and other objects are effected by our invention, as will beapparent from the following description and claims taken in connectionwith the accompanying drawings which form a part of this application, inwhich: r

Fig. 1 is a side elevation of the type wheel unit with one arm of theframework cut away;

Fig. 2 is a side elevation of-the opposite 'side of the type wheel tothat shown in Figure 1, and shows a commutator of the type utilized inconnection with those type wheels of the printing unit which carry nospecial characters;

Fig.3 is a view in elevation of the type of commutator utilized inconnection with the type wheel carrying the special characters, whensuch type wheel carries in addition ordinary numerical characters;

Fig. 4 is a view in elevation of the type of commutator utilized inconnection with a type Wheel carrying only special characters;

F i,-g. 5 is a circuit diagram of a printing unit in which the typewheel for the hundreds digits carries the special characters in addition'to the ordinary characters;

Fig.6 is a diagrammatic view showing a section of a tape printed by thearrangement shown in Figure 5, and also the position of the type wheels;

Fig. 7 is acircuit diagram of a printing unit in which a separate typewheel is providled for printing the special characters; an

Fig. 8 is a diagrammatic view showing a section of a tape printed by thearrangement shown in Figure 7.

In the quotation board system described in the aforesaid co-pendingHoover application entitled Electrical selecting and indicating system,a-train of signals comprising three groups is utilized to operate theuotation board apparatus for properly posting each quotation. The signalgroups are a selector group which selects the section of the quotationboard which is alloted to the stock or commodity being quoted upon andwhich further selects the proper set of range indicators, such as high,low, etc.; a. restoration group for bringing the selected indi cators t0unison position; and an answer group for setting up the quotation on theindicators. According to the present invention we propose to use thesame type of signal train to operate the printing unit. The ordinaryquotation is set up and printed by the printing unit in much the samemanner as described in our aforesaid application, where the printingunit is substituted for the last range indicator.

In the description of our invention a quotation boa-rd arrangement usingspecial characters to designate the high and low range values only hasbeen chosen as illustrative of the principles involved. Since thecharacters in most common use are the letters H and"L, these will beused in the description. It is to be understood, however, that any otheragreed symbols may be used instead of H and L to designate the rangevalues.

For setting up the special type wheel in the printing unit to print theH or the L, we employ the signal included in the selector group of thetrain forthe purpose of selecting the high or low set of rangeindicators, to select in addition a circuit which will cause the specialtype wheel to be set up and maintained with H or L in printing position,according to whether the selecting signal is the one which would selectthe high or low set of indicators.

According to our invention, each type wheel unit in a printing unit ispreferably constructed and arranged substantially-in accordance withthe-units described in the copending application of Ray Hoover, entitledStock quotation boards, filed April 3, 1931, Ser. No. 527,588, andassigned to The Western Union Telegraph Company, several of these unitsbeing assembled together to form the type Wheel assembly of the printingunit. The construction of each of the type wheel units is substantiallythe same, except for the fact that the type wheel employed to print thespecial characters, carries fl-I and- L as the characters on two of itsfaces and has a special control commutator associated therewith.

Referring now to the drawings, we show in Figs. 1 and 2 a type wheelunit 10 which may be utilized to print'ordinary characters in thequotation, and which when modified, as, will presently be described,willalso print the special characters. The unit comprises a framework 11,atype wheel 12 carried at one end of the framework, and an operatingmagnet 13 carried at the other end of the framework. The type wheel isrotatably wheel assembly for a printing unit.

type wheels of the several units are held in.

supported on a hollow shaft or spacing member 14 extending transverselybetween side arms embodied in the framework. A sleeve 15 surrounds thehollow shaft 14 and carries a ratchet wheel 16 at one side of the typeWheel and a control commutator 17 at the other side. The ratchet wheel16 and the commutator 17 are held in fixed relation relative to eachother by portions of the sleeve being upset as shown zit-18.

The type wheel has eleven flat faces formed on its rim. Ten of the facesbear the characters 1 to 9 and 0, and one of the faces is blank. Thetype wheel rotates in a counter clockwise direction as lviewed in Fig. 1and is moved the distance of one character, or

one eleventh of a revolution, for each impulse of the actuating magnet13. The type wheel is rotated by-the ratchet in a step by step movementproduced through a pawl arm 21 having a pair of pallets 22 and 23 whichalternately engage the teeth on opposite sides of the ratchet wheel. Aspring 24 holds the pallets in engagement with the ratchet wheel. Anarmature 25 extends from the left end of the pawl arm, near its pivotpoint, across the rear face of the magnet. Each stroke of the armaturein a closing direction, in response to an electrical impulse transmittedto the magnet 13, causes the pawl arm to move upwardly, which with theouter pallet 22 at the right end of the pawl arm in engagement with theface of a tooth of the ratchet wheel, rotates the same counter clockwiseone twenty-second of a revolution. Upon release of the armature thepawlarm is moved downwardly by a retractable spring 26 which with theinner pallet 23 in engagement with the face of a tooth on the other sideof the ratchet wheel moves the latter in the same direction anothertwenty-second of a revolution, thus rotating the type wheel the space ofone character for each impulse The desired number of type wheel units asdescribed above are assembled inside by side relation, as shown in Fig.6. to form the type The axial alignment by means of a stay rod 27 beingpassed transversely through the 1101: low shafts 14, this stay rod beingshown in cross section at the axis of the type wheels in Figs. 1 and 2.

Obviously, when it-is desiredt'o print from the type wheels they may beset in printing position by rotating the same from the last' setposition until the proper character is moved into printing position orthe type wheels may be restored. to a predetermined unison positionbefore each printing opera- 1 tion, as for instance, with the blankposition thereof in printing pos1t1on, and then set in the correctposition for printing the 'de-- sired characters by transmitting totheir operating magnets impulses corresponding to 1 the number or digitwhich it is desired to print from each type wheel. We prefer to employthe latter method of operation for printing the numerical characters inorder to bring the same in accord with the method employed for operatingdirect reading or indicator units which have been heretofore utilized inquotation systems, while for printing the special character, we preferto employ the former method so that the printing mechanism may beoperated in combination with an indicator board from the same signals asemployed for operating the indicators.-

According to our invention when a stock quotation is printed whichrepresents a high value for the day, or a new high, or any other valuewhich would be displayed on the high range indicator, as described inthe foregoing applications, the letter H is printed along with thequotation. On the other hand, when a stock value is printed whichrepresents low for the day, or a new low, or any other quotation whichwould be displayed on the low range indicator of the above mentionedsystem, the letter L is printed along with the stock quotation.

According to one embodiment, provision is made for printing the H and Lin the hundreds position, in which case, it displaces the digit in thehundreds position for that quotation.

According to another arrangement the H and L are printed in a separateposition or,

in other words, in a separate column from the columns of the digitsrepresenting the quotation, preferably at the left of the hundredsposition.

Referring to Figs..3, 5, and 6, the embodiment of my invention asarranged to print the H and L in the hundreds position will now bedescribed. The printing unit consists of four type wheel units arrangedin axial alignment asshownin Fig. 6; one for each digit or column ofdigits occurring on the tape and -corresponding to hundreds, ten, units,and The type wheel units arranged fractions. to print the tens, units,and fractions, are constructed according to the embodiment shown inFigures 1 and 2 and described above. The type wheel utilizedfor printingthe hundreds digit is substantially identi cal in structure with theaforesaid units with the exception that two of the characters at the rimof the wheel have been removed and replaced by H and L, and thecommutator 17 has been replaced by a special commutator such as shown inelevation in Fig. 3, and shown diagrammatically in Fig. 5 as thecommutator on the extreme left.

\ The two characters replaced are preferably characters of higher valuesuch as the 9 and the 0. The H may occur in the place of the 9, and theL occur in the place of the 0. The displacement of characters of highervalue in the hundreds column detracts very little from the usefulness ofthe hundreds type wheel unit because of, the fact that stock values ofabove $899.00, for instance, would rarely be quoted. Of course, theblank position is allowed to remain on the type wheel because it isextremely desirable to have no character printed from this type wheel incertain instances. When a high or low stock quotation is to be printed,the hundreds type wheel is rotated so that the H or the L, as the casemay be, is rotated into printing position. In the quotation thus printedno numerical digit or, in other words, no hundreds value will occur inthe hundreds c0 1- umnfor that quotation. This is not objectionable,however, because the hundreds value may be readily interpolated from thenormal quotations printed just prior to the higher or lower quotations,for rarely will the hundreds value of the quotation be changed with theprinting of the new higher or lower quotation." In case it should changethe new value would be apparent or readily interpolated.

The commutator 17 controlling the type wheels for printing the tens,units, and fractions comprises a disc 31 of insulating material havingan inner and outer annular segment of conducting material 32 and 33mounted on oneface of the disc. The inner and outer conducting segmentsare spaced apart so as to be insulated from each other. The outersegment33 has a sector 34 on one side projecting inwardly into a recess 35 inthe inner segment. Two brushes 36 and 37 are arranged to press upon thesegments as they rotate, and are positioned so that brush 36 normallypressing on the inner segment will pass onto the inwardly projectingsector 34 of theouter segment as the sector passes underneath the tip ofthe brushes. The commutator is secured in such angular relation to thetype wheel that the blank comes into printing position as the innerbrush passes onto the sector 34 of the outer segment. The purpose ofthis arrangement will be explained later.

The commutator 41 for controlling the type wheel in the hundredsposition is shown in Figure 3 and comprises an inner conducting disc orsegment 42 and an outer nonconducting segment 43 mounted on the outerface of a suitable disc. The face of the commutator may be considered asbeing divided into four zones over which four separate contact brushes44, 45, 46 and 47 slide as the commutator and type wheel rotate. Theinner zones compriwe a portion of the conducting surface 42 interruptedat one point by small non-conducting segments 48, 49 and 50 in therespective zones. while the other zone comprises the non-conductingsurface 43 interrupted by a small segment 52 0f the conducting surface.

A description of the operation of a printing unit embodying thesefeatures will now V 45 grcunded'wire'59 as shown. a

" Let it be further assumed that the type wheel and commutator are setwith the nulines 58.

be given. Assuming for instance, that a normal quotation for a stock Ais to be posted and that such quotation is 118.2 and that stock postingapparatus including the printing unit as diagrammatically illustrated inFig. 5 is allotted to this stock. Responsive to the stock selectingsignals the selector mechanism selects the stock relay 55 and operatesthe same to close the multicontact switch 56. This connects the circuitsand relays associated with the printing unit to the four signal channellines 57 and the two high low These are bus lines running to each stockposting section of the quotation board. Since neither H nor L-is to beprinted in connection with this quotation, there is no potential oneither of the high or low bus lines. The multicontact switch 56- havingbeen closed, the printing unit is in condition to receive the second orrestoration group of signals comprising aseries of ten impulses over thefour signal channel lines 57. These impulses are communicated throughthe multicontact switch 56 to the windings of the respective actuatingmagnets 13.

As already described the three type wheels for printing the tens, units,and fractions digits operate in the same manner. It is, therefore,sufiicient to describe the operation of the fractions type wheel. Theoperating circuit for the magnet of this type wheel is a completedeither through the inner brush 36,

the inner segment 32. and the ground wire 59 or the inner brush 36, thesector 34, outer brush 37, and actuating ground wire 60.

Let it be assumed that the commutator 17 instead of being in theposition correspond-- ing to unison or blank position, as shown inFigure 5, is in some other position such as shown in Figure 2. In such acase the inner brush 36 is in contact with the inner conducting segment32, and the circuit is completed through the commutator shaftand themoral 4 in printing position. The first seven restoration impulsesreceived steps the type wherl around to bring the numerals 5, 6, 7, 8,9, 0, and the blank portion successively into printing position. At themoment the blank portion of the type wheel reaches printing position theinner brush 36 engages the sector 34 of the outer segment which, asstated before, is insulated from the inner grounded segment. The sector34 and. the outer segment 33 are ungrounded at this time, the actuatingground contact being open, and consequently the circuit from themagnet13 is broken and the magnet remains unresponsite during the transmissionof the three rerestoration impulses. In like manner, the type wheels forprinting the tens and units digits will be restoredv to their respectiveblank position from whatever prior position they might have been set,leaving all three type wheels in a corresponding position or, in otherwords, in a unison position.

Ten restoration impulses enable the type wheel to be set in blankposition from the most unfavorable previous setting thereof, that is,with the numeral 1 in printing position. I

However, the provisions for restoring the hundreds typewheel to blankposition, to which position it is to be restored in connection with thepresent assumed quotation of 118.2 as well as in all cases when neitherH nor L is to be printed, is somewhat different from the other typewheels. The control commutator for this type wheel is shown in Fig. 3and the circuit connections in Fig. 5. For the operation of restoringthe hundreds type wheel to blank position, it is assumed that it is nowin some position other than blank, such as for instance the position toprint the numeral 6. In this position the brush 47 in contact with theouter zone of the commutator will be in engagement with thenon-conducting sector 43 and the brushes 44, 45 and 46 in contact withthe three inner zones will be inv engagement with the conducting disc42. With the tongues of the main high and low relays 63 and 64 and thesupplementary high and low relays 65 and 66 in position as shown inFigure 5, which is their normal position when neither H nor L is to beprinted, it will be observed that the only brush 46 engaging the thirdor next to the outer zone will be grounded. The circuit is completedthrough the third zone, the outer tongue 67 of the supplementary lowrelay, the outer tongue 68 of the supplementary high relay, and thegrounded wire 69 as shown.

In this manner, the circuit through the coil or windings of theactuating magnet of the hundreds type wheel is prepared for respondingto the restoration impulses. However, instead of connection being madewith the hundreds signal channel for the reception of the restorationimpulses, connection is made therefor with the fractions signal channel.The reason for this is that in practice, in certain instances. it iscustomary to omit printing all of the digits or values in the quo tationexcept the last, the other digits being obtained by reference'to theindicator section for that stock, or other periodically printedquotations which include all of the digits. WVhen such is the practice,the H or L would be printed in the quotation omitting the other digitsexcept the last or fractions digit. It is for the purpose of steppingthe H or L into printing position, as will be presently described, thatthe stepping impulses during the restoration period are taken from thefractions signal channel.

Referring now to the diagram shown in Figure 5, a wire 70 branching offfrom the wire connecting the fractions operating magnet through themulticontact switch to the in Figure 5, until the brush 46 engaging thethird zone is brought over the nonconducting I segment 50 of this zone.This will occur at the end of the fourth restoration impulse, whereuponthe ground" connection for the circuit through the coil 13 of theactuating magnet will be broken and the magnet remain unresponsive forthe remaining six of the ten restoration impulses. In this restoredposition the type wheel would have its blank face in printing position.

Between the end of the restoration impulse period and the beginning ofthe answer impulse period an impulse is'received through wire 75 whichoperates the actuating ground relay. In Figure 5 each of the commutatorsare shown as normally restored in blank or unison position, and it willbe observed that the outer commutator brush leading from each commutatoris connected to the line wire leading to the tongue 61 of the actuatingground relay. When the actuating ground relay has been operated, thistongue will be connected with the grounded contact 62, thereby groundingall of the aforesaid brushes, which will complete the circuit from theseveral operating magnets to the ground.

However, since the hundreds type wheel magnet receives its restorationimpulses from the fractions signal channel, it will be necessary toconnect it with the hundreds signal channel beforethe answer impulsescan be transmitted thereto. This is accomplished by the actuating groundrelay at the time the actuating ground is applied. When the actuatingground relay AG is operated, an auxiliary tongue 76, connected with agrounded battery 77, applies battery to the relay 72 which disconnectsthe actuating magnet lead Wire 74 from the wire 7 O in the fractionssignal channel circuitand connects the wire 7 4 to the wire 82leading-to the hundreds signal channel. As the last named relay 72operates it closes a Contact 83 applying a locking circuit to thisrelay. Current for this is 511pplied from a grounded battery 85, througha circuit prepared by a relay 86 which was operated when themulticontact switch 56 closed.

The circuits to the several stepping magnets are all now completed andready to respond to the answer group of signal impulses. As soon as thefirst impulse is received by each stepping magnet, the type wheels andcommutators are stepped around the space of one character;simultaneously therewith the inner brushes 36 of the commutators for thetens, units, and fractions type wheels will be moved off the inwardlyprojecting sector 34 of the outer conducting ring or segment 33 onto theinner conducting segment 32, thus reestablishing normal ground throughthe inner segment, the axis of the commutator and the grounded lines 59,as shown. At the same time, the first answer impulse received by thestepping magnet of the hundreds type wheel steps that wheel around thespace of one character causingthe brush 47 engaging the conductingsector 52 (see Fig. 3) of the outer zone to pass onto the non-conductingsector 43, interrupting the actuating ground circuit; simultaneouslytherewith the brush 46 engaging the third zone passes from thenonconducting sector 50 onto the conducting plate 42 of the commutatorwhich now establishes the ground c rcuit for the stepping magnet throughthe tongue 67 of the L relay and 68 of the H relay to the grounded line69.

For setting up our assumed quotation of 118.2, one answer impulse istransmitted to the stepping magnet of the hundreds type wheel whichsteps it around to place the digit 1 in printing position. Likewise, oneim-- pulse is transmitted to the stepping magnet of the tens type wheelto step the digit 1 thereon in printing position. Eight signal impulses.are transmitted to theunits wheel stepping magnet stepping the typewheel around the space of eight characters bringing the digit 8 intoprinting position. Two signal impulses are transmitted to the fractionsstepping magnet stepping that type wheel around the space of twocharacters bringing the digit 2 into printing position.

After the answer signals have been received and the type wheels havebeen set up in response thereto, the quotation is printed by means of aplaten 90 being brought up against the faces'of the type wheels toimprint the characters on a suitable paper tape. The platen is actuatedin the following manner.

During the transmission of the first or selecting group of signalimpulses the stock relay was closed and battery was applied to relay 86which in turn closed a circuitapplying the battery 85 to the platensolenoid controlling relay 91 which through the tongue 92 closed alocking circuit through the relay from the same battery. The operationof this control relay prepared a circuit from a grounded contact 93through the platen actuating solenoid 94 back to a contact leading tothe tongue of the aforesaid relay 86 which has battery applied theretoand which was removed from the solenoid circuit contact when theaforesaid relay was actuated. In the locking circuit of the platencontrol relay 91 is a switch 95- adapted to be opened as the platen 90rises to meet the type wheels. The circuit having been prepared in'thismanner, at the end of the transmission of the answer group of signals,the stock relay releases the multi-contact switch and opens the circuitcompleted therethrough which in turn causes the relay 86 to release thetongue connecting with the grounded battery 85 which then moves overtocomplete the circuit from the battery through the platen actuatingsolenoid 94 and the previously grounded contact 93 thus energizing thesolenoid to carry the core 96 thereof and the platen 90 mounted thereonupward to meet the type wheels. Durin g this upward stroke the lockingcircuit switch 95 is opened which releases the tongue connecting withthe grounded contact 93 and opens actuating solenoid. circuit permittingthe platen to return to normal position. At the time the stock relay wasreleased, or in other words the circuits therethrough disconnected, theactuating ground 'relay was released also. This leaves the circuitcontrolling the printing unit in condition for reception of thenext-train of signals for posting the next stock quotation;

We will now assume that the next stock quotation is a new high quotationand the H is to be printed along with the posting of a quotation. Thenew quotation will be assumed as H184. For setting up the printing unitto post this quotation the train of sig nals comprising the three groupswill be transmitted thereto as in the above described case of a normalquotation. However, in the first or selecting group of signals a sigsnal impulse will be included to operate the main H relay 63 whichinitiates the preparation of circuits to bring the H on the bum dredstype wheel into printing position; This signal impulse corresponds tothe impulse in the system described in the aforesaid Hoover applicationentitled Electrical selecting and indicating system, for selecting thehigh range indicator unit. The circuit from the main H relay-isconnected in the system to receive this high range signal impulse.

Referring to theupper portion of the diagram in Fig. 5"it will be seenthat separate batterieslOl and '102 are provided to correspond with'themain H relay 63 and the main L relay 64. The H relay battery 101 isconnected through the normally closed contact 103 of the-L relay, thencethrough the normally open contact 104'of the H relay to the branch whichextends up from the top or high bus line. The L relay battery 102 isconnected through the normally closed contact 106 of the H relay, thencethrough the normally open contact 107 of the L relay to the branch whichextends up from the low bus line. When the H relay is actuated inresponse to the range signal of the selecting group, the tongues aremoved toward the left closing the contact 104 applying the H battery 101to the H bus line branch, at the same time opening the contact 103 tothe L battery, so that battery potential is present in only one of theshunt wires between the two relays 63 and 64. The reason for applyingbattery through the interlocking action of both relays is to preventboth a high and a low signal being transmitted to the printing. unit atthe same time. a V

Battery having been applied to the H bus line, when the stock relay isactuated closing the multi-contact switch 56, battery will be appliedfrom the H battery through. the second contact from the left of themulti-contact switch to the H supplementary relay 65 establishing acircuit through th1s relay and branch 109 from the grounded wire leadsto a tongue Which is closed upon operation of the relay 65 and grounds awire 111 leading to the inner or first commutator brush 44 engaging theinner zone of thehundreds wheel commutator. At the same time, it will beobserved, the circuit from the second brush 45 is completed through thecentral contact 113 of the L relay 66 which is normally open but sincethe L relay has not been operated, the second brush is left ungrounded.The ground circuit from the third brush 46 through the normally closedcontact 67 of the L relay 66 and the normally closed contact 68 of the Hrelay 65 will be 'opened at the'contact 68 by the H relay when it isactuated.- In this manner, ground circuit is established for the firstbrush 44 while the circuit to the second and third brushes 45 and 46 isopen, the circuit to the fourth brush 47 being normally open until afterthe actuating ground is applied at the end of the sec- As the stepof theinner or first commutator zone (see Fig. 3) passes under the first brush44, breaking the ground circuit of the magnet, after which it willremain unresponsive to the remaining restoration signals. As thenon-conducting segment 48 in the first zone of the commutatorcorresponds to the printing position of the H character on the hundredstype wheel, the latter will now be in position for printing thischaracter in the hundreds column on the paper recording tape. It is tobe observed that the position to which the hundreds type wheel has nowbeen restored is not its normal position, and further that since thebrush 47 connected to the actuating ground circuit is not in engagementwith the conducting sector 52 of the fourth zone none of the brusheswill be grounded when actuating ground is applied. Therefore, with H inprinting position the hundreds type wheel will not respond to the answerimpulses.

The restoration signals acting on the stepping magnets of the tens,units, and fractions type wheel will restore them to normal or blankposition in the same manner as described in connection with theforegoing example. The restoration signal group having been received,the actuating ground is applied as in the former example, preparing thecircuits for the reception of the answer group of signals. In case thepractice should be to transmit only the last or fractions digit,

.four answer signal impulses will be transmitted to the fractions magnet13 stepping corresponding type wheel around the space of four charactersbringing the digit 4 into printing position, the tens and units typewheels remaining in their normal or blank position. In such instance, ananswer signal would not move the hundreds type wheel, instead, itsoperating magnet bein ungrounded, as described above, it wou d remain inits present position, which, it will be recalled, is in position forprinting the H character. Then, as described in connection with theforegoing example, the platen solenoid will be actuated to lift theplaten and print the quotation as H blank blank point 4,

(H .4), in other words the quotation as posted on the recording tapewill consist of the H, two blank spaces in which nothing appears, thepoint, and the 4. A similar quotation is illustrated in Fig. 6 as .3, itbeing the second quotation occurring on the tape. This quotation,interpolating from the one appearing just above, will be read as 117.3.

In case the practice is to print all of the digits of the quotation,answer signals will be transmitted over each of the four signalchannels. The fractions type wheel will he stepped into position asdescribed" above for printing the digit 4. Similarly, the units typewheel will be stepped around eight spaces in position to print the digit8. The tens type wheel will be stepped around one space in position toprint the digit 1. However, as for the hundreds type wheel, it will beremembered that it was restored with the H in printing position, andthat in this position the stepping magnet is ungrounded and, therefore,unresponsive to any answer signal. This will leave the hundreds typeWheel in position to print the H when the platen is actuated. The platenis actuated as heretofore described and the quotation is printed in theform assumed, that is, H184. It will be observed that the quotation inthis form will not have a numeral digit in the hundred position.However, such digit will be readily interpolated from the quotationappearing above it as the numeral 1.

The operation of the printing unit will now be described in connectionwith the ostin of a uotation re resentin a low I! 13 examples. The lowrange selecting signal will operate the main L relay 64 which willconnect the L battery 102, through its interlocking relation with themain H relay 63 as heretofore described, to the L bus line. Uponoperation of the stock relay 55, the multi-contact switch 56 will closeand place the L battery potential on the L auxiliary relay 66 and movethe tongues thereof toward the left, closing two sets of contacts andopening a third. This establishes a locking circuit from wire 88 havingplus potential, through contact 112 and the relay 66 to the ground, aground circuit through contact 113 to the second brush 45 of thehundreds type wheel commutator, and opens a ground circuit throughcontact 67 ungrounding the third brush 46 on the left side of thehundreds type Wheel commutator. The H auxiliary relay 65 having remainedin its normal position, it will be observed that the circuit through themiddle contact 109 is open, which leaves only the second brush 45 on thehundreds wheel commutator grounded to establish a circuit through thecoil of the stepping magnet.

The printing unit having responded to the selecting group of signals,the operating magnet of the several type wheels will now be prepared torespond to the restoration group. of signals to step the type wheelsaround. Assuming for purposes of illustration, that a high quotation hasbeen posted immediately preceding this operation and olution, save onspace. This represents the extreme conditions under which this typewheel would be called upon to function, and illustrate that with thecommutator arrangement utilized, the type wheel can be rotated throughnormal or blank position and re stored to some other selected position,which in this case was with the L in printing position.

i The restoration signals will bring the tens, units, and fractionswheels into normal position as in the ordinary case. At the end of therestoration group of signals, the actuating ground is applied whichestablishes ground circuit to the coils of the stepping magnets for thetens, units, and fractions type wheels, but not to the coil of thestepping magnet to the hundreds type wheel. This, as explained inconnection with example of posting a high quotation where H is printed,is because in this position'the brush 47 connecting with the actuatingground wire is on the non-conducting portion 43 of the fourth or outerzone, and cannot apply actuating ground, and as set forth above, both ofthe other brushes are open circuited and cannot establish a circuit toground.

The actuating ground having been applied, the stepping magnets for thetens, units, and fractions type wheels will respond to the answerimpulses transmitted over their respective signal channels to step themaround in positionto priht the digits 16.1. ,However, as just explainedabove, the stepping magnet for the hundreds type Wheel is ungrounded andremains with the L in printing position, just as set by the restorationsignals. After the transmission of the answer group of impulses printingwill be effected, as already described in connection with the aforesaidexamples, and the quotation which will appear on the recording tape asL16.1.

Referring now to the other embodiment of my invention, as illustrated,particularly in Figs. 4, 7, and 8 it is' possible to'at all times printall the numeral digits comprising a quotation of four digits, and inaddition thereto print H or L in connection with the high and lowquotations inv a column at the leftof the hundreds colunm;- Toaccomplish this, five type wheels, instead of four, are employed in theprinting unit. Four of these operate in normal response to the signalssent over the hundreds, tens, units, and fractions signal channels, asin the case of the previous systems described in the afore-' saidapplications. The fifth type wheel is arranged to carry the specialcharacters, which in the present embodiment are H and L, an d isarranged to bring H and L into pr ntmg position according to whether ahlgh or low range selecting signal is transmitted to the quotationboard.

The control commutator 120 for the fifth or HL type wheel is shown inFig. 4. It is substantially the same as the control commutator for thehundreds type wheel in the other embodiment of my invention hereindescribed, except that it has three zones instead of four, the fourthzone employed in connection with applying actuating ground beingunnecessary. The commutator comprises a conducting surface 121 arrangedin three zones, corresponding to H, L, and blank. The first, second, andthird zones have non-conducting sectors 122, 123, and 124 respectively,which are so located that they will pass underneath one of the brushes125,126, 127 as the corresponding character comes into printingposition.

Referrin to Fig. 7, such a printing unit is shown in diagrammatic formin connection with the portion of the quotation board system circuitpeculiar to the unit. In Fig. 8 a sectlon of the recording tape isshown, illustrating the type of quotations posted by the printing unitillustrated in Fig. 7.

T 1e operation of this unit will now be described by assuming, asexamples, one quotation of the ordinary type, one containing H, and onecontaining L. The operation of the circuits and relays is substantiallythe same as the embodiment already described, and a detailed analysiswill not be given .in connection with this embodiment. For the ordinaryquotation assume that 115.4 it to be posted. In response to the first orrange selecting group of signals the stock relay 55 will beactuated,.closingthe multi-contact switch 56 and establishing a signalcircuit from the four signal channels through the coils of the steppingmagnets 13 of each of the four numerical character type wheels thecontrol commutator 17 to the grounded wire as shown. The circuit to thestepping magnet for the special or HL character type wheelis connectedfrom the incoming line for the fractions type wheel, and continuedthrough the conducting portion 121 of the HL type wheel commutator 120(see Fig. 4). From the conducting portion of the, commutatorthe circuitis completed through the outside brush 127, a normally closed contact ofthe auxiliary L relay 66 and a normally closed contact of the auxiliaryH relay to the grounded wire 69.

Vhen the restoration signals are received,

the four normal character type wheels will he stepped around andrestored to their unison or blank position, which will take place in TheHL type wheel will be stepped around until the non-conducting sector124, corresponding to blank in the outer zone of the commutator has comeunderneath the outer brush 127, thus opening the ground circuit from thestepping magnet and stopping the HL type wheel with the blank inprinting position.

At the end of the restoration period the actuating ground is appliedthrough the operation of the relay AG establishing a ground circuit fromthe coils of the stepping magnets in the usual manner, thus preparingthe printing unit for the answer signal impulses.

t will be observed, however, that the actuating line does not connectwith the commutator of the fifth or special HL type wheel, andtherefore,this type wheel will not respond to the answer signal group. Theactuating ground having been applied, the stepping magnets of the fourcharacter type wheels will respond 'to the answer signals and will bestepped around until the hundreds wheel presents the numeral 1 inprinting position, the tens the numeral '1 in printing position, theunits the numeral 5 ,in printing position, and the fractions wheel thenumeral 4 in printing position after which printing will be effected aspreviously explained, thus posting the assumed quotation. As alreadystated, theHL type wheel was restored to blank position and renderedunresponsive of the answer group of signals and, consequently, it willprint no character when the printing platen is operated.

It will now be assumed that it is desired to post a quotation whichrepresents a high quotation, as for example, H 116.9. The numerical partof the quotation will be set up on the type wheels after being restoredto normal blank position in the same manner as in case of an ordinaryquotation. The HL type wheel in this case is set with the H in printingposition. This is brought about by actuation of the H relay 63 inresponse to a high range selecting signal impulse in the first signalgroup. The actuation of this relay connects battery 101 through themulticontact switch 56 to the auxiliary high relay 65 which operates toground the inner brush 125 engaging the inner or first zone of the 'HLtype wheel and at the same time operates to unground the outer brush 127engaging the third zone. The circuit for the brush engaging the middlezone being normally open. at the auxiliary low relay 66 therefore, onlythe inner brush 125 remains grounded. As restoration impulses arereceived from the fractions type wheel signal channels the HL type wheelis stepped around until the non-conducting sector 122 in the inner zoneof the commutator is brought under the brush 125 and the ground circuitfrom the stepping magnet interrupted thereby.

This position of the commutator corresponds to the position of the typewheel set to print the H character. As already explained, this typewheel is at all times unresponsive to the answer group of signals and,therefore, after the answer group has set the four numeral type wheelsin position to print the numerals 116.1, the printing unit is ready forprinting the quotation with H occurring in front or to the left of thenumerical part of the quotation. As a result, when the platen isactuated, the assumed quotation will be printed at H1161.

In like manner, if we assume that a quotation is to be posted whichrepresents a low, such as for example, L114.0, the EL type wheel willbeset upto print an L by the transmission of a low range signal, and theother type wheels in the printing unit will be set up in the usualmanner. The low range signal operates the low relay 64 to apply batteryto the low auxiliary relay 66 which operates to apply ground to themiddle brush 126 of the HL commutator 120, at the same time, ungroundingthe outer brush 127, the inner brush 125 at this time being normallyungrounded. In this manner, the HL type wheel is prepared to be steppedaround by the restoration signals until the non-conducting sector 123 inthe middle zone of the commutator comes .underneath the brush 126interrupting the circuit through the coil of the stepping magnet with Lin printing position, where it will remain, the type wheel beingunresponsive to the restoration signals. After HL type wheel has beenset to print L in this manner, and the other type wheels having been setup in the normal manner, the platen will be operated printing thequotation L114.0 as assumed.

From the foregoing description of our invention, it will be seen that wehave devised a printing unit arranged to print characters which willdesignate high and low quotations as they occur in the stock sales orother commodity reports and, by this means, enable the printing unit todisplay information.in addition to the trend of a stock or commodityposted. In this way stock quotation boards are rendered more effectiveand more complete to better enable an observer to associate theimmediate trend of stock with the progress of the days quotations.

It is obvious-from the foregoing that the printing unit might beequipped with typt wheels carrying the letters B and A 01 other symbolsinstead of or in addition to the H and L to desi nate bid and ask. D

. upon as are imposed bythe prlor art or as are specifically set forthin the appended claims. 7

We clalm as our invention: a 1. In quotation board systems, a prlntlngunit for printing a number of quotations in consecutlve order andembodylng, 1n combina-- tion, one or more type wheels arranged forprinting numerical. characters to represent the quantity value of thequotations, and another type wheel carrying one or more specialcharacters and arranged to respond to selective signals designating anydesired one of the special characters for printing the same, inconnection with certain quotations, to designate a quality value of thequotations.

2. In quotation board systems, a printing unit for printing a number ofquotations in consecutive order and embodying means including one ormore type wheels carrying the numerals 1 to 9 and 0 arranged forprinting the quantity value of the quotations, and means including anadditional type wheel carrying the letters H andL said means be ingarranged to respond to selective signals designating either the H or theL for print ing the same, in connection with certain quotations, toindicate the quality value or range of the quotation.

3. In quotation board apparatus, a printing unit for printing a numberof quotations in consecutive order and embodying means including one ormore type wheels carrying the numerals 1 to 9 and 0 andarranged forprinting certain digits in the quotations,'and means including anothertype wheel arranged for printing a certain other digit in the quotationand carrying certain lower numeri cal characters and carrying inaddition letters, characters, or symbols in place of certain highernumerical characters and arranged to print a suitable numericalcharacter in connection with the usual quotations, and in response tospecial signals received in connection with other print a letter,character, or symbol.

4. In an electrical indicating system, vthe combination of a set ofindicators, means associated with each indicator for actuating the samein response to signal impulses, means for controlling said actuatingmeans to cause the indicators to be restored to unison position, andmeans for selectively modifying the controlling means associated withone or more of said indicators to cause the same to be requotations toselectively stored to some position. v

5, In an electrical indicating system, the combination of a printingunit embodying a set of type wheels, actuating means for each typewheel, means operable to energize the actuating means in response to acertain group of signal impulses ina train of impulses for causing thetype wheels to be restored to a unison position, and a combination ofrelays operable" in response to signal impulses selectively inserted inanother roup of impulses in the train for establishmg a circuit whichwill cause at least one of the type-wheels to be restored to a positionother than the unison position. i

6. In quotation board apparatus for posting information relating tocommodity or other items, a printing unit embodying a set of charactercarriers, actuating means for each character carrier, means associatedwith the actuating means to render the character carrier responsive to atrain of signal impulses including a selecting group, a restorationgroup, and an answer group, and means responsive to signal impulses inthe selecting group to render at least one of the character carriersselectively responsive to either the restoration group of signals aloneor both the restoration and answer-group of signals.

7. In quotation board apparatus for posting information relating tocommodity or other items, a printing unit embodying a set of' typewheels, actuating means for each type wheel, and means associated withthe actuating means to render the type wheels responsive to a train ofsignal impulses including a selecting group, a restoration group, and ananswer group, and means responsive to signal impulses in the'selectinggroup to render at least one of the type wheels selectively responsiveto either the restoration group of signals alone or both the restorationand answer group of signals.

8. In an electric indicating system, the ,combination of a set ofindicators, an electromagnet associated with each indicator .foractuating the same in response to signal impulses, means forinterrupting the flow of current to said electro-magnetic means, saidinterrupting means being arranged to interrupt the current to the magnetof each indicator as the latter reaches a predetermined position in itsrotation, and means to selectively control the circuit interruptingmeans for'one of said indicating magnets to interrupt the current as theindicator reaches one of a plurality of predetermined positions in itsrotation.

9. In a quotation board apparatus for posting information concerningcommodities or other items, a unit embodying a plurality of rotors eacharranged to carry a series of characters at its periphery, at leastone'of said rotors being arranged to carry special position other than.unison characters at its periphery, actuating means for each rotor.means associated with each actuating means for rendering said rotorsresponsive to one combination of signal impulses for causing the same topresent predetermined regular characters in a definite angular position,and additional means as sociated with the actuating means for the rotoror rotors carrying special characters for rendering said rotorsresponsive to another combination of signal impulses for causing thesame to present predetermined special characters in said position.

10; In quotation board apparatus, the combination of a printing unitembodying a set of type wheels carrying type characters on theirperiphery at least one of said type wheels carrying special characterson a portion of its periphery, actuating means for each type wheel,means associated with the actuating means to render the type wheelsresponsive to a train of signal impulses, for bringing the typecharacters into printing position, and means responsive to certainselective signal impulses in the train to render the actuating means forthe type wheel carrying the special characters responsive to onecombination of signal impulses in the train to bring one of the specialcharacters into printing position, or to another combination of signalimpulses to bring one of its'regular characters in printingposition.

11. In a printing unit for quotation boards, the combination of a typewheel unit including a type wheel having faces formed at its peripheryand carrying thereon a series of characters including a blank, certainof said characters being adapted to convey information representingvalue, certain other of the characters adapted to convey informationof asignificance other than value, electro-magnetic actuating means forrotating the type wheel in response to electric signal impulses, andmeans cooperating to complete an energizing circuit through saidactuating means and to selectively interrupt such circuit to bringeither the ordinary or special characters carried by the type wheel intoprinting position.

12. In an electrical indicating system, the combination of a printingunit embodying a set of type wheels, electro-magnetic means operable torotate each type wheel, means for rendering the electro-magnetsresponsive to certain impulses in a. train of signal impulses to rotatethe type wheels. means for controlling the response of the rotatingmagnets to stop the type'wheels in a predetermined unison position, andmeans for moditying the control means to cause at least one of the typewheels to stop'in a position other than the predetermined unisonposition.

13. In a quotation board system, the combination of a printing unitembodying a set of type wheels, and electro-magnetic means associatedwith each type wheel for rotating the same in response to signalimpulses, means to establish a signal impulse circuit through eachmagnet to the ground, a commutator for each type wheel connected inseries with the impulse circuit and arranged to rotate with the typewheel, said commutator embodying means to interrupt the impulse circuitin accordance with a predetermined angular position of the type wheel,and means cooperating with the commutator of one or more of said typewheels for selectively modifying the circuit interrupting action of thecommutator to cause the type wheel to be restored toone of a pluralityof predetermined positions.

14. In an electrical indicating system, the combination of a printingunit embodying a set of type wheels, including one or more regular typewheels carrying at their periphery a series of type characters, and aspecial type wheel carrying at its periphery one or more specialcharacters, electro-magnetic means operable to efiect rotation of eachtype wheel, circuit closing means for rendering the rotating meansresponsive to certain restoration impulses in a train of signal impulsesto rotate the type wheels, circuit interrupting means for controllingthe response ofthe rotating means to stop the regular type wheels in apredetermined unison position, control means operable in response toimpulses selectively included in the train for causing the rotatingmeans of the special type wheel to stop thesame at a position displayinga special character, means operable to render'the rotating means of thetype wheels restored to unison position responsive to answer impulses inthe train for advancing them to a position which will displaypredetermined regular type characters, and means for rendering thespecial type wheel unresponsive to the answer group of impulses.

15. In a printing unit for quotation boards,

cuit through the actuating means'and to interrupt said circuit when thetype wheel is rotated into one of several positions, and

means to select the position at which the interruption shall take place.

16. In a type wheel unit for quotation board systems, the combination ofa control commutator comprising a conducting surface en'ibodying aplurality of zones, a brush in engagement with each Zone, and means toselectively complete a circuit through the commutator through any one ofthe brushes.

17. In a typeswheel for quotation board systems, the combination of atype wheel, electro-magnetic means for rotating the type wheel, acontrol commutator disposed to rotate with the type wheel and comprisinga conducting surface embodying a plurality of zones, a brush inengagement with each zone, and means to selectively complete a circuitthrough the commutator to ground through any one of the brushes, each ofsaid commutator zones including a non-conducting sector arranged to passunder the brush corresponding to that zone and interrupt the. circuitthrough the brush and the commutator when the type wheel is in apredetermined angular position.

18, Ina type wheel unit for uotation board systems, the combination 0atype" wheel having one or more special characters and a blank disposedat'its periphery, electro-magnetic means'for rotating the type wheel, acontrol commutator disposed to rotate with the type wheel and comprisinga conducting surface embodying zones corresponding to each specialcharacter, a brush in engagement with each zone, the blank characterzone'brush being normally grounded, the special character brushes beingnormally ungrounded, and means including relays corresponding to eachspecial character and arranged to selectively operate toground one ofthe zone brushes and simultaneously unground the normally grounded zonebrush corresponding to blanl 19. In a type wheel unit for quotationboard systems, the combination of a type wheel having one or morespecial type characters and a blank disposed at its periphery,elcctro-magnetic means to rotate the type wheel to bring the typecharacters into printing position, a control commutator disposed torotate with the type wheel and comprising a conducting surface embodyinga zone corresponding to each special type character, a brushinengagement with each zone, means cooperating with the commutator toselectively complete a circuit through the commutator to ground any oneof the zones and zone brushes, means associated .with each commutatorzone to interrupt the circuit through the zone and zone brush as thetype character, corresponding to the zone selected, reaches printingposition, and means associated with the commutator to reestablish thecircuit through the commutator after a certain type character is broughtinto printing position. v

20. A type wheel unit embodying a type wheel carrying one or morespecial type characters including a blank, a supporting framework. meanssupported by the framework and including an elcctro-magnet for rotatingthe type characters into printing position, a control commutatorsupported'to rotate in a definite relation to the type wheel, means toestablish a circuit through the'magnet and the commutator in series,said commutator including a conducting surface arranged to embody a zonecorresponding to eachspecial character including the blank, and a brushcorresponding to each zone fixed to the framework with one end inengagement with its respective zone, and means to, selectively completethe circuit to ground through either zone and brush, each of said zone'sincluding a non-conducting sector "arranged to pass under the zone andbrush, interrupt the circuit and-arrest the motion of the type wheelasfthe corresponding type character comes into printing position. i

21. In atype wheel printing unit for quotation board systems, thecombination of a type wheel carrying a series'of regular type charactersand a plurality of special type characters including H L, and a blank,means including an electro-magnet for rotating the type wheel inresponse to signal impulses, a control commutator disposed to rotatewith the type wheel and comprising a conducting surface embodying first,second and third regular zones corresponding to the H, L, and blank,respectively, and a fourth zone constituting an extra zone correspondingto the blank, a brush in engagement with each of the respective zones,means to selectively complete a circuit from thecommutator to groundthrough any one of the regular zones and zone brushes, each of saidcommutator zones, not including the fourth, being formed to includearelatively small sector of nonconducting material so angularly disposedin relation to the respective special type characters that as thespecial type character corresponding to that zone comes into printingposition, the non-conducting portion will pass under its zone brush andinterrupt the circuit, whereby a predetermined special type charactermay be brought into printing posi tion by selecting the circuit throughthe zone and brush corresponding thereto; said fourth zone having itssurface formed to in clude a relatively small sector of conductingmaterial so angularly disposed that it will pass under the zone brush asthe blank char. acter reaches printing position, and means to ground thefourth zone brush; whereby a predetermined regular character may bebrought into printing position, by bringing display in response tospecial signals received 111' connection with certain quotations, any

the blank into printing'position, regrounddesired one of the specialcharacters to designate a quality value of the quotation.

23. In quotation board apparatus, the combination of an indicator unitincluding an indicator wheel having faces formed at its periphery andcarrying thereon a series of characters including a blank, certain ofsaid characters being adapted to convey information representing value,certain other of the characters adapted to convey information of asignificance other than value, electro-mag netic actuating means forrotating the indicator wheel in response to electric signal impulses,and means cooperating to complete an energizing circuit through saidactuating means to selectively interrupt such circuit to bring eitherthe ordinary or special characters carried by the indicator Wheel intodisplay position.

In testimony whereof we aflix our signatures.

RAY HOOVER. EVAN R. WHEELER.

